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Winners

U.S. stocks are seeing mixed action as the macroeconomic trials and earnings news battle for investor attention. Despite these trials, real estate is seeing some inklings of strength. The strength can be felt across various corners of the sector. In addition to seeing ICF head higher, funds like the iShares Dow Jones U.S. Home Construction Index Fund (ITB), which track homebuilders are trading in positive territory.

Even with macroeconomic headwinds making their way back into global headlines, the Vietnamese marketplace has witnessed impressive resilience. Shares of VNM are heading higher during midday trading, revisiting 2012 highs.

It is common to see VNM move to the beat of its own drum. This uncorrelated performance may be attractive during periods of shakiness, but this fund should still be approached with caution.

At the same time that UNG is heading higher, the iPath Dow Jones UBS Natural Gas Subindex Total Return ETN (GAZ) it seeing losses. The culprit behind GAZ's downturn is its 100% premium. Continue to avoid this product.

ETFs linked to Russia's marketplace are heading lower as energy producers take hits. With substantial chunks of their portfolios dedicated to oil and gas companies like Gazprom and Lukoil, ERUS, the Market Vectors Russia ETF (RSX) and other similar products are heavily susceptible to swings in the energy sector.

Precious metals producers are struggling even as bullion-backed products see only tepid action. Thanks to Monday's downturn, GDX has retreated towards 2012 lows. This fund and the Market Vectors Junior Gold Miners ETF (GDXJ) have hit a rough patch in recent weeks so looking ahead it will be interesting to see if they can find some solid ground.